Netflix drops bid for WB, Paramount wins
Bengaluru, Feb. 28 -- Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery, after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio. "We've always been disciplined, and at the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid," Netflix said in a statement.
The Warner Bros board still has to terminate the Netflix deal and adopt Paramount Skydance's offer. "Once our board votes to adopt the Paramount merger agreement, it will create tremendous value for our shareholders," Warner CEO David Zaslav said in a statement. HTC...
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